Jobs site Glassdoor raises $50 million from Tiger Global

SAN FRANCISCO Thu Dec 5, 2013 11:45am EST

SAN FRANCISCO Dec 5 (Reuters) - Jobs and career site Glassdoor said it has raised $50 million from a group led by Tiger Global, marking a year where the New York-based investment firm has dramatically stepped up its presence in Silicon Valley.

Glassdoor, based just north of San Francisco in Sausalito, California, announced the new funding on Thursday. It runs a user-generated database about companies with employee comments and information on salaries and interviews, and has become a leading recruiting platform.

It has data on almost 300,000 companies in 190 countries, the company said in a press release.

For Tiger, the investment demonstrates its increasing interest in venture-backed companies that are using the Internet to grow quickly both in the United States and overseas. A spokeswoman did not immediately respond to a request for a comment on Tiger's activity involving high-profile Silicon Valley companies.

Tiger Global is best known for its hedge fund and private-equity investments, although it has been investing in venture-backed companies for a decade.

In October, Tiger invested $60 million in Nextdoor, an online social network for neighbors that said it would use the cash in part to help expand internationally.

In May, Tiger invested $50 million in Automattic, the company behind the WordPress blogging service, shortly after leading a $60 million financing round for online ticketing service Eventbrite. In January, Tiger led a $444 million equity investment in online survey company SurveyMonkey.

It also led a $50 million investment in Seattle-based Redfin, the online real-estate company, last month.

Tiger Partner Lee Fixel handled the Glassdoor financing, as he has the other Silicon Valley transactions.

Dragoneer Investment Group also participated in the latest Glassdoor funding round, along with investors from previous rounds - Battery Ventures, Benchmark Capital, DAG Ventures, and Sutter Hill Ventures. With the new funding, Glassdoor has raised a total of $93 million since it was founded in 2007.

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